My truck runs about .28 cents/mile for fuel. I figure the other .30 takes care of the oil and what not.

 

That seems high, depending on what gas is running in your part of the country? To figure fuel cost per mile, simply divide your cost of fuel by your mpgs -- so using my Cavalier as an example, the following would apply:

* MPG averages 30
* Cost of fuel right now in Texas averages $2.259
* $2.259/30 = .075 cents per mile in fuel cost.


At the current IRS reimbursement rate, this leaves 50-cents per mile to cover repairs, maintenance, depreciation, etc. You can do the same calculation with any other vehicle as long as you know your average mpg and fuel cost.

Right now I am in a "sweet spot" with my Cavalier in that it is paid off, has low mileage and no major repairs on the horizon, so the bulk of the 50-cents per mile differential gets dumped into my "toy fund". As the vehicle ages and repairs start to be required, the amount of money that can be diverted for "ulterior antics" will go down accordingly.

On the flipside, if I was tooling around in a 4x4 Super Duty as my work vehicle of choice, the payment alone would probably eat-up most of that $0.575-cents per mile reimbursement. Add in more expensive fuel, maintenance and repairs, plus a substantial amount of depreciation, and in short order I'd be losing money instead of making money on my companies mileage program. Of course, I'd be driving around in a much nicer vehicle, which has a substantial amount of value to some people, but for me I am happy going modest with my work transportation knowing that all the money I am saving is going to something that's more important to me in the long run!

 

I would search for new employment.

 

Maybe I'm doing the math wrong. i figure 15mpg at about $3.00/gal. right now its .20 per mile.

checked online, its still the same... 1/2 the fuel mileage and more expensive fuel lol